BAD LOANS, BAD BLOOD
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Just as Bob Adelizzi, president of HomeFed Bank, assured stockholders he’d get a handle on the loan losses, so he assured employees in the early summer of 1990 that we were all needed more than ever and that our jobs were secure. What a betrayal of trust! Adelizzi has obtained a new position at a Texas savings institution. Kim Fletcher can comfortably live off his investments. But what happened to the thousands of employees who believed these men knew what they were doing?
CINDY BEARD
South Pasadena
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